The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Radar Systems Market. The rising demand for the Radar Systems Market is expected to drive the demand for Radar Systems Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global radar systems market size was USD 32.48 Billion in 2021 and is expected to register a revenue CAGR of 4.6% during the forecast period, according to latest analysis by Emergen Research. Increasing investments by governments for upgrading existing fighter aircraft radar, advancement of phased array solid-state radar, and increasing defense expenditure of emerging countries are key factors driving market revenue growth.
Vast number of small radiating components found in phased array antennas allow for comprehensive landscape mapping by phased-array radars. Such customized antennas concentrate on radar radiation into high-energy pencil beams that are steered electronically without the need for antenna construction to be physically moved, which is driving growth of the market. In addition, quick development of radar technology and use of advanced computer technology in commercial maritime radar, such as Automatic Radar Plotting Aids (ARPA) are also driving market revenue growth. By using radar plotting and calculations, ARPA speeds up the process from seeing target to locating data for radar users. Concerns about airborne fire control, early warning, surveillance, ground mapping, Air Traffic Control (ATC), and surface-to-air missile guidance are driving demand for military radars.
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As well as new entrants in the Radar Systems market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Some major companies in the global market report include BAE Systems, Northrop Grumman, Boeing, Lockheed Martin Corporation, General Dynamics Corporation, Thales, Saab, Raytheon Technologies Corporation, Honeywell International Inc., Mitsubishi Electric Corporation, and L3Harris Technologies, Inc.
Market Scope:
One of the report’s central components is the broad Radar Systems market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
Reports Highlights:
- The marine segment accounted for a significant revenue share in 2021. High demand for marine radar systems for detection and tracking of marine activities, which includes submarines, warships, offshore patrol vessels, and other vessels is one of the key factors driving revenue growth of this segment. Maritime radar operates at either x-band (10 GHz) or S-band (3GHz) frequencies. Utilization of ship radar helps to prevent maritime mishaps and makes use of radar's basic features. Additionally, such radar systems are used by authorities, coast guards, and vehicle tracking systems to monitor coastal traffic.
- The remote sensing segment accounted for largest revenue share in 2021. Ability to surveillance through cloud and rain during both day and night and provision of high-resolution images for easy mapping and tracking are major factors driving revenue growth of this segment. Radar data is excellent in its ability to detect surface and surface disturbances in the sea. Along with this feature, ships can also be monitored and tracked to the point where a ship's size and direction may be utilized to determine its speed and heading to determine its current position.
- The military & defense segment accounted for a significant revenue share in 2021. Increasing inter-country conflicts over borders and disputed areas are increasing need for surveillance, which is one of the key factors driving revenue growth of this segment. Increase in military funding and rapid technological advancement in surveillance and battle systems are further supporting growth of the market.
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The global Radar Systems market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Radar Systems sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global radar systems market based on product, application, end-users, and region:
· Product Outlook (Revenue, USD Billion; 2019-2030)
- Air
- Military aircraft
- Commercial aircraft
- Marine
- Military vessels
- Commercial vessels
- Unmanned
- Unmanned Ground Vehicle (UGV)
- Unmanned Aerial Vehicle (UAV)
- Unmanned Surface Vehicle (USV)
- Land
- Mobile radar systems
- Portable radar systems
- Space
- Spacecraft
- Satellites
· Application Outlook (Revenue, USD Billion; 2019-2030)
- Remote sensing
- Air traffic control
- Ground traffic control
- Space navigation & control
· End-Users Outlook (Revenue, USD Billion; 2019-2030)
- Aviation
- Military & defense
- Automotive
- Industrial
- Weather monitoring
- Others
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Regional Bifurcation of the Radar Systems Market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Radical Features of the Radar Systems Market Report:
- The report encompasses Radar Systems market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Radar Systems industry
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